Simpson Manufacturing (SSD) will raise its quarterly dividend by 4 percent to 26 cents per share in 2022. This follows a dividend hike of 8.7 percent to 25 cents per share by SSD in 2021 and marks the 9th consecutive year of annual dividend increases by the construction products manufacturer.

The next SSD dividend will be payable on July 28, 2022 to stockholders of record as of July 7, 2022. The next ex-dividend date is July 6, 2022. A new annualized dividend rate of $1.04 per share yields 1.0% at a stock price of $105.32 for SSD. Simpson Manufacturing will now pay an estimated $45 million in dividends annually.

Simpson Manufacturing Co., Inc., headquartered in Pleasanton, California, through its subsidiary, Simpson Strong-Tie Company Inc., designs, engineers and is a leading manufacturer of wood construction products, including connectors, truss plates, fastening systems, fasteners and shearwalls, and concrete construction products, including adhesives, specialty chemicals, mechanical anchors, powder actuated tools and reinforcing fiber materials.